The Communications Commission of Kenya (CCK), the regulatory authority for the communications sector in Kenya, has reported that cash deposits held by mobile money transfer providers increased from KES 117 billion (USD 1.41 billion) to KES 176 billion (USD 2.12 billion) during 2011. CCK partly attributes the increase to a rise in the maximum amount that mobile phone users are allowed to hold in their accounts from KES 70,000 (USD 842) to KES 100,000 (USD 1,200). In addition, the number of mobile money users increased by 3 percent to 18.9 million and the number of mobile transaction agents rose from approximately 44,900 to 48,000 [1] [2].
By Brendan Millan, Research Associate
About The Communications Commission of Kenya(CCK): Established in 1999, CCK is the regulatory authority for the communications sector in Kenya. CCK is responsible for facilitating the development of broadcasting, multimedia, telecommunications, postal services and electronic commerce.
Sources and Resources:
[1] Communications Commission of Kenya(CCK): “Quarterly Sector Statistics Report”, http://www.cck.go.ke/resc/downloads/SECTOR_STATISTICS_REPORT_Q2_2011-12.pdf
[2] Mobile Money Africa: “Mobile Money Deposits Jump to Sh176 Billion in Kenya” by George Ngigi. http://mobilemoneyafrica.com/mobile-money-deposits-jump-to-sh176-billion-in-kenya/
MicroCapital.org Article, March 26, 2012, “MICROCAPITAL BRIEF: CARE, Orange, Equity Bank Partnering to Bring Mobile Banking Services to Savings Groups in Kenya”, https://www.microcapital.org/microcapital-brief-care-orange-equity-bank-partnering-to-bring-mobile-banking-services-to-savings-groups-in-kenya/
MicroCapital.org Article, March 13, 2012, “MICROCAPITAL BRIEF: Central Bankers of Kenya, Tanzania Promote Africa Mobile Financial Services Policy Initiative”, https://www.microcapital.org/microcapital-brief-central-bankers-of-kenya-tanzania-promote-africa-mobile-financial-services-policy-initiative/
MicroCapital.org Article, March 12, 2012, “MICROCAPITAL BRIEF: Kenyan Mobile Money Transfer Service M-Pesa Lowers Minimum Transaction Size to $0.12, Cuts Fees for Small Transfers”, https://www.microcapital.org/microcapital-brief-kenyan-mobile-money-transfer-service-m-pesa-lowers-minimum-transaction-size-to-0-12-cuts-fees-for-small-transfers/
MicroCapital.org Article, February 7, 2012, “MICROCAPITAL BRIEF: 84% of New Cellphone Users in Kenya Signing Up for Mobile Money Transfer,” https://www.microcapital.org/microcapital-brief-84-of-new-cellphone-users-in-kenya-signing-up-for-mobile-money-transfer/#more-16820
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